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Condensed Consolidated Statement of Shareholders’ Equity (Unaudited) - 9 months ended Sep. 30, 2017 - USD ($) $ in Thousands | Total | Common Stock Class A | Common Stock Class C | Series A Preferred Stock | Series B Preferred Stock | Common Stock Common Stock Class A | Common Stock Common Stock Class C | Preferred Stock Series A Preferred Stock | Preferred Stock Series B Preferred Stock | Additional Paid-In Capital | Retained Earnings (Accumulated Deficit) | Total Shareholders’ Equity | Noncontrolling Interest
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Common shares outstanding at beginning of period (in shares) at Dec. 31, 2016 |  | 200,835,049 | 19,155,921 |  |  | 201,092,000 | 19,156,000 |  |  |  |  |  |
Balance at beginning of period at Dec. 31, 2016 | $ 2,552,935 |  |  |  |  | $ 20 | $ 2 | $ 0 | $ 0 | $ 2,364,049 | $ (8,929) | $ 2,355,142 | $ 197,793
Preferred shares outstanding at beginning of period (in shares) at Dec. 31, 2016 |  |  |  | 1 | 104,400 |  |  | 0 | 104,000 |  |  |  |
Increase (Decrease) in Stockholders' Equity [Roll Forward] |  |  |  |  |  |  |  |  |  |  |  |  |
Warrants exercised (in shares) |  |  |  |  |  | 6,236,000 |  |  |  |  |  |  |
Warrants exercised |  |  |  |  |  | $ 1 |  |  |  | (1) |  |  |
Restricted stock issued (in shares) | 841,443 |  |  |  |  | 841,443 |  |  |  |  |  |  |
Restricted stock forfeited (in shares) | (8,788) |  |  |  |  | (8,788) |  |  |  |  |  |  |
Conversion of class b preferred to class a common (in shares) |  |  |  |  |  | 26,100,000 |  |  | (104,000) |  |  |  |
Conversion of class b preferred to class a common |  |  |  |  |  | $ 3 |  |  |  | (3) |  |  |
Sale of unregistered class a common shares (in shares) |  |  |  |  |  | 23,500,000 |  |  |  |  |  |  |
Sale of unregistered class a common shares | $ 340,750 |  |  |  |  | $ 2 |  |  |  | 340,748 |  | 340,750 |
Underwriters discount and offering costs | (7,233) |  |  |  |  |  |  |  |  | (7,233) |  | (7,233) |
Stock-based compensation | 9,420 |  |  |  |  |  |  |  |  | 9,420 |  | 9,420 |
Change in equity due to issuance of shares by Centennial Resource Production, LLC |  |  |  |  |  |  |  |  |  | (2,682) |  | (2,682) | 2,682
Net income (loss) | 50,165 |  |  |  |  |  |  |  |  |  | 45,032 | 45,032 | 5,133
Common shares outstanding at end of period (in shares) at Sep. 30, 2017 |  | 256,670,839 | 19,155,921 |  |  | 257,760,000 |  |  |  |  |  |  |
Balance at end of period at Sep. 30, 2017 | $ 2,946,037 |  |  |  |  | $ 26 | $ 2 | $ 0 | $ 0 | $ 2,704,298 | $ 36,103 | $ 2,740,429 | $ 205,608
Preferred shares outstanding at end of period (in shares) at Sep. 30, 2017 |  |  |  | 1 | 0 |  |  | 0 | 0 |  |  |  |

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